Goodrich reports $195M in 1Q net income

Charlotte-based Goodrich Corp. today said its net income rose in the first quarter of 2011 from the same quarter a year ago.

Goodrich said it had net income of $195 million, or $1.52 per diluted share, on sales of $1.89 million, up from $111 million, or 87 cents per diluted share, on sales of $1.69 million in the first quarter of 2010.

For the first quarter of 2011, the company reported:

large commercial airplane original equipment sales increased by 6 percent;

regional, business and general aviation airplane original equipment sales increased by
55 percent, including sales associated with the acquisition of DeCrane’s cabin management assets;

large commercial, regional, business and general aviation airplane aftermarket sales increased by 12 percent, and commercial aftermarket sales were 9 percent higher than the fourth quarter 2010; and

defense and space sales of original equipment and aftermarket products and services increased by 10 percent.